| | | | MNOK |
| Industry | Q1 2009 | Q1 2008 | 2008 | 2007 |
| | | | |
| Operating revenues | 274.9 | 387.5 | 3 292.6 | 2 906.9 |
| Operating expenses | -395.6 | -461.2 | -3 030.0 | -2 637.6 |
| Depreciation | -39.4 | -36.3 | -152.6 | -118.7 |
| Operating profit (EBIT) | -160.1 | -110.0 | 110.0 | 150.6 |
| Share of profit associated companies and joint ventures | -5.6 | 4.5 | 41.7 | 19.8 |
| Net financial items | -13.9 | -13.1 | -83.6 | -40.3 |
| Earnings before tax (EBT) | -179.6 | -118.6 | 68.1 | 130.1 |
| Total assets business area | 1 644.1 | 1 536.7 | 1 815.6 | 1 569.1 |
The Norwegian Industry Division's operations are nation-wide and its business areas are asphalt, crushed stone and gravel, road maintenance and recycling of industrial waste. In Sweden, Veidekke has operations within the areas of asphalt, crushed stone and gravel, but at present, these activities are very limited.
Veidekke Industri (industry)
Veidekke Industri showed a turnover for the first quarter of MNOK 275 (MNOK 388 for the first quarter of 2008). Earnings before tax were MNOK -179.6 (MNOK -118.6).
The negative profit performance compared to 2008 is primarily due to the need for adjustments and restructuring of the asphalt operations in Mid-Norway, which has reduced the result by MNOK 27. Both projects and stocks have been written down this quarter. Organisational adjustments have been made, and control functions have been strengthened.
The reduced level of activity within the building and construction industry has led to a decrease in volume of almost 30 per cent within crushed stone and gravel, and recycling. The first quarter is mainly one of expenses, and the division has had a normal cost increase compared with the previous year. The results within road maintenance are slightly better than last year, but still negative.
Kolo Veidekke was slightly less successful in this year's tender round for asphalt contracts for the Public Roads Administration than it was in 2008. However, the public market is expected to grow in 2009, among other things, as a result of economic stimulus packages.
The company has achieved an increased market share within road maintenance by winning three contracts in this year's competitive tendering. Furthermore, the prices of the awarded contracts are at a satisfactory level.
